Posted on 04/20/2020 3:38:57 PM PDT by abb
Send that stuff to the salt domes.
>>>Good time to do it. We’ll need it when the world war comes.<<<
This has the feeling of stocking up on all the weapons you can find just before entering into the arena to face the final big boss in your favorite video game.
He should have bought the expiring oil futures today at minus $37 a barrel meaning the buyer willing to take physical delivery would be paid over $100,000 a contract to take the oil off their hands. I can’t think of a better way of balancing the budget as well as topping off the strategic oil supply than being paid to take the crude oil
Oddly when I heard that oil had gone negative for the moment, the first thing that went into my head was that this would be a good time for the Feds to bump up our emergency reserves. Definitely a smart move.
They're a buck seventy-nine in central Delaware. That's less in real terms than I paid in 1969.
Don't forget, no matter how low the price of oil gets, gasoline still costs money for refining and transportation, not to mention the profit on selling it.
Right, and where is it going to go — reserves were topped
off last week.
Did you ever read about how I combated California summer blend price increases
Don’t just fill up the reserve storage we have, but build more now! Massive building projects. Put them on military bases around the country. How long does it take to make those tanks?
What about letting the airlines tank up cheap as part of the bail out
Good move
“So how come gas prices are so high?“
I don’t know why but gas prices always jump immediately to reflect rising prices in oil and then go down very slowly over weeks as retailers must be fighting to keep profits as high as possible.
“...need a Strategic Gasoline Reserve...”
-
That won’t work.
You “could” have rotated storage in the supply chain, but
that would require abandoning “just in time” practices.
“...So how come gas prices are so high?...”
-
They ain’t.
“Gasoline does not store as long as crude oil.“
Also very combustible when compared to oil.
Was thinking that earlier - get it done.
“...How long does it take to make those tanks?...”
-
The crude oil reserve is not stored in tanks.
Underground salt domes in Louisiana.
And taxes.
Fill it to the top and start another one.
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